The country is powering ahead as it seeks to tap $20 billion in foreign-currency borrowings through to 2022, starting with Pandas and Samurais, and a $5 billion Eurobond.

The formation of First Abu Dhabi Bank, widely viewed as a success, has sparked a series of merger announcements. Will scale make for better performing banks? And could cross-border mergers in the region finally happen?

Saudi Arabia’s central bank governor recently gave international banks a clear signal that they will not be punished by a loss of fees for avoiding an investment conference in Riyadh due to public outrage over the murder of journalist Jamal Khashoggi.

Ken Moelis lived up to his nickname ‘Ken of Arabia’ when he showed up at the Saudi Future Investment Initiative conference in Riyadh in late October in his brave pursuit of future fee income despite the risk of international opprobrium.

The murder of prominent Saudi journalist Jamal Khashoggi has sparked condemnation of the kingdom’s leadership the world over, but as the dust settles after the Future Investment Initiative, what are the real-world effects, if any, of this crisis on Saudi Arabia’s banking ties?

The murder of a Saudi journalist has led to the withdrawal of international financiers from Saudi Arabia’s state-run investment conference, and compounded growing fears over the kingdom’s leadership.

Two of the world’s most advanced cryptocurrency markets agree to exchange notes on blockchain regulation.

After a tumultuous decade, the country’s leading investment banks have finally recovered their confidence – and are bursting into new markets and products.

Absa’s efforts to establish wholesale-banking partnerships outside Africa, possibly with Barclays or Société Générale, underlines the importance of international links to African finance.

Slower growth is translating into lower government spending on infrastructure. With an estimated funding deficit of $40 billion a year, private-sector solutions from Africa’s home-grown pension fund industry as well as international insurance firms could help plug the gap.

Cipla Quality Chemicals’ share sale is good news for Uganda’s capital markets, but is still something of a rarity. Investors have little choice when it comes to picking stocks: government borrowing remains high and puts the focus on bonds, while family-owned businesses tend to be wary of opening up to outside investment.

With global liquidity conditions tightening, local currency bond markets have a more important role to play in financing African governments and companies. While Ghana and Nigeria are leading the way, other markets are still in the early stages. Poor transparency and liquidity, and a multiplicity of legal regimes are holding back foreign investment.

As the central bank awards its first new banking licences in 20 years, the big four will find it harder to justify the fees that have underpinned their profitability. The newcomers promise technology will facilitate cheaper banking services and tackle inequality.

Senior management at Société Générale sees a unique opportunity for growth in Africa, including east Africa, Nigeria and the lusophone countries. The aim is to be much more than the only French bank left standing on the continent. Instead, the bank is courting regional clients by building local markets and structured finance platforms, while its investment in mobile money could be the seed of a much bigger African consumer business.

Egypt’s private-sector banks have traditionally been wary of lending to SMEs, but now a combination of new technology and central bank pressure is driving some of the country’s most sophisticated lenders to take a fresh look at the segment.

The west African state has reclaimed its status as the most attractive francophone market south of the Sahara. International banks are rushing to do business there.

Following in the footsteps of Egypt and South Africa, Nigeria has signed up for a currency swap deal with China, but are swaps all they are cracked up to be?

Even though the banking sector remains off-limits, foreign investment in other state-owned enterprises will support infrastructure development.

Sub-Sahara bounces back in ECR in step with LatAm, while debt, political instability and global protectionism constrain rises elsewhere.

In early 2016, the Middle East’s two largest countries looked set to become the world’s most vibrant frontier markets. Two years on, many bankers doubt that either Iran or Saudi Arabia can live up to these expectations.

Five years after China launched its Belt and Road Initiative, its ambitions in the Middle East and Africa are beginning to go beyond infrastructure and oil.

Partnership could replace broken Barclays links; follows rumours of sale of Société Générale South Africa custody unit to Absa.

Delusional clients are complicating the business of collecting fees for advising on mega trades for customers such as Saudi Aramco and Tesla.

Saad Azhari has quietly ushered in a new era at Blom Bank. The outwardly conservative firm has embraced technology and pulled off a transformative acquisition for its wholesale business. But prudence remains the watchword in such a tempestuous market.

The African sovereign is one of the more impressive movers in Euromoney’s country risk survey this year, extending a longer-term upward trend that could see its credit rating upgraded – if it avoids political instability.

Inclusion in the emerging market index is recognition of the country’s reforms and could bring $50 billion of foreign investment.

Less onerous regulatory requirements and the proximity to markets where retail FX is prohibited continue to encourage brokers to set up shop in the Middle East, despite ongoing state protection for the Saudi Arabian currency.

Europe may not be enough after Trump’s withdrawal from the Iran deal.